BOSTON, MA / CRWEPRESSRELEASE / July 27, 2015 / Zoom Telephonics, Inc. (OTCMKTS:ZMTP) (“Zoom”), a leading producer of cable modems and other communications products, confirmed today that the closing date for its rights offering is July 29, 2015. This date will not be extended.
“This rights offering is intended to provide Zoom with working capital to fund projected higher shipments, inventory, and receivables associated with our recently announced Motorola cable modem brand license, and also to fund other new product initiatives,” said Frank Manning, Zoom’s President and CEO. “We believe that effectively executing our plans in connection with the Motorola license agreement will enable Zoom to significantly increase annual revenue and net income beginning in 2016. Zoom’s ability to increase revenue will depend on a number of factors including the strength of the overall cable modem market, our ability to develop and produce in high volume Motorola brand cable modem products, and our ability to grow our shelf space at key retailers. We believe the Motorola brand license is a transformative opportunity for our company, and we hope our shareholders will view the rights offering as a good opportunity to increase their investment in Zoom.”
About Zoom Telephonics
Founded in 1977 in Boston, Zoom Telephonics, Inc. designs, produces, markets and supports communication products. For more information about Zoom and its products, please see www.zoomtel.com. For more information about the Motorola license agreement, please see www.zoomtel.com/documentation/news/Motorola-License-Agreement-May2015.pdf.
This release contains forward-looking information relating to Zoom Telephonics’ plans, expectations, and intentions. Actual results may be materially different from expectations as a result of known and unknown risks, including: the potential need for additional funding which Zoom may be unable to obtain; the uncertainty of future revenues from sales of cable modems; unanticipated costs, interruptions or other uncertainties associated with Zoom’s production and shipping; Zoom’s reliance on several key outsourcing partners; uncertainty of key customers’ plans and orders; risks relating to product certifications; Zoom’s dependence on key employees; uncertainty of new product development including budget overruns, project delays, and the risk that newly introduced products may contain undetected errors or defects or otherwise not perform as anticipated; costs and senior management distractions due to patent-related matters; and other risks set forth in Zoom’s filings with the Securities and Exchange Commission. Zoom cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Zoom expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in Zoom’s expectations or any change in events, conditions or circumstance on which any such statement is based.
Zoom Telephonics, Inc.
John Nesbett/Jennifer Belodeau
Institutional Marketing Services (IMS)
SOURCE: Zoom Telephonics, Inc.